1. An 'Impossible Foods for pharmaceuticals,' using plants to produce complex protein drugs for human diseases.

2. A biotech company like a specialized Amgen, but 'growing' its therapeutic proteins in plant cells rather than traditional bioreactors.

3. A modern Genzyme (now part of Sanofi), but one that uses a unique plant cell system to manufacture its rare disease treatments.

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• Elelyso: A treatment for Gaucher disease.
• PRX-102: A therapeutic protein candidate in late-stage clinical trials for the treatment of Fabry disease.
• PRX-110: A proprietary plant cell recombinant form of human deoxyribonuclease I for the treatment of cystic fibrosis.
• PRX-115: A plant cell-expressed recombinant PEGylated Uricase for the treatment of gout.
• PRX-119: A plant cell-expressed PEGylated recombinant human DNase I product candidate for the treatment of NETs-related diseases.

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Protalix BioTherapeutics (PLX) sells primarily to other companies and organizations through strategic agreements and partnerships for the development, commercialization, and distribution of its therapeutic proteins.

Its major customers/partners include:

• Pfizer (Symbol: PFE)
• Chiesi Farmaceutici S.p.A.
• Fundação Oswaldo Cruz (Fiocruz)

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Protalix BioTherapeutics (PLX) has a management team with extensive experience in the pharmaceutical and biotechnology industries.

Dror Bashan

President and Chief Executive Officer Mr. Dror Bashan was appointed President and Chief Executive Officer and a Director of Protalix BioTherapeutics in June 2019. He brings over 25 years of experience in the pharmaceutical industry to his role. Prior to joining Protalix, Mr. Bashan held several senior positions at Teva Pharmaceutical Industries Ltd. from 1998 to 2018. His most recent role at Teva was Senior Vice President of Global Business Development, where he was involved in strategic alliances, mergers and acquisitions (M&A), and the acquisition and divestiture of assets. Notably, he oversaw Teva's largest divestiture process of global women's health assets in early 2018. Mr. Bashan began his career as a Senior Business Analyst at Bank Leumi in September 1993. He holds a Bachelor of Arts in Economics and Business Management and a Master of Business Administration in Finance and Marketing from Tel Aviv University.

Gilad Mamlok

Senior Vice President and Chief Financial Officer Mr. Gilad Mamlok serves as the Senior Vice President and Chief Financial Officer of Protalix BioTherapeutics. Specific details regarding his background, such as founding or managing other companies, selling companies to acquirers, or a pattern of managing private equity-backed companies, were not readily available in the provided information.

Einat Brill Almon, Ph.D.

Senior Vice President, Product Development Dr. Einat Brill Almon joined Protalix Ltd. in December 2004 as Vice President, Product Development, and continued in this role with Protalix BioTherapeutics after December 31, 2006. She possesses extensive experience in managing life science projects and companies within biotechnology and agrobiotech sectors. Her expertise spans clinical, device, and scientific software development, coupled with a strong background in Intellectual Property. Before her tenure at Protalix Ltd., from 2001 to 2004, Dr. Almon was the Director of R&D and IP at Biogenics Ltd., an Israeli company that developed an autologous platform for tissue-based protein drug delivery and was a wholly-owned subsidiary of Medgenics Inc. Dr. Almon trained as a biotechnology patent agent at prominent IP firms in Israel. She earned her Ph.D. and M.Sc. in molecular biology of cancer research from the Weizmann Institute of Science, a B.Sc. from the Hebrew University, and completed Post-Doctoral research in plant molecular biology at the Hebrew University.

Yaron Naos

Senior Vice President, Operations Mr. Yaron Naos holds the position of Senior Vice President of Operations at Protalix BioTherapeutics.

Fernando Sallés

Chief Business Officer Mr. Fernando Sallés serves as the Chief Business Officer for Protalix BioTherapeutics.

The key risks to Protalix BioTherapeutics (PLX) include:

1. Clinical Development and Regulatory Approval Risk: A significant portion of Protalix's future growth and revenue potential depends on the successful completion of clinical trials and subsequent regulatory approvals for its pipeline products. Specifically, PRX-102, which is in the last stage of clinical trials for Fabry disease, represents a critical asset. Failure to demonstrate efficacy or safety, encountering unexpected side effects during trials, or inability to secure regulatory approvals would severely impact the company's ability to bring new products to market and generate substantial revenue.
2. Commercialization and Market Competition Risk: Even if Protalix's pipeline products receive regulatory approval, there is no guarantee of successful commercialization or significant market acceptance. The company's commercialized product, Elelyso, and future products like PRX-102, operate in competitive markets for rare diseases. Risks include intense competition from existing therapies or other companies developing similar treatments, pricing pressures, challenges in securing market access and reimbursement, and difficulties in achieving widespread physician and patient adoption.
3. Reliance on a Limited Product Pipeline: Protalix's future prospects are heavily dependent on the successful development and commercialization of a few key pipeline candidates, most notably PRX-102. While Elelyso is on the market, the company's long-term growth is tied to these developmental assets. Should these key candidates fail in trials, face significant delays, or underperform commercially, the company has a limited number of other late-stage products to mitigate the impact on its financial performance and strategic outlook.

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Protalix BioTherapeutics (PLX) develops and commercializes recombinant therapeutic proteins for various diseases. The addressable markets for their main products are outlined below:

• Elelyso (Gaucher disease): The global market for Gaucher disease treatments was valued at approximately USD 1.66 billion in 2024 and is projected to reach USD 2.02 billion by 2032. Other estimates place the global market at USD 1.8 billion in 2024, with a projected growth to USD 3.0 billion by 2033. The U.S. market specifically for Gaucher disease drugs was valued at USD 645.7 million in 2024. North America is a dominant region in this market.
• PRX-102 (Fabry disease): The global Fabry disease treatment market was estimated at USD 2.54 billion in 2023 and is projected to reach USD 4.93 billion by 2030. Other reports suggest the global market was approximately USD 1.7 billion in 2024, with expectations for significant growth through 2034, or USD 2.4 billion in 2024, potentially reaching USD 4.9 billion by 2033. In 2024, the United States market for Fabry disease therapeutics was estimated at around USD 880 million. North America held the largest revenue share, with the U.S. accounting for 90.1% of that share in 2023.
• PRX-110 (Cystic Fibrosis): The global cystic fibrosis therapeutics market was estimated at USD 10.3 billion in 2024 and is projected to grow to USD 22.7 billion by 2030. Other analyses suggest a market size of USD 11.81 billion in 2025, increasing to USD 13.49 billion in 2026, with a projection to reach about USD 44.72 billion by 2035. North America held the largest revenue share of 59.8% in the global market in 2024.
• PRX-115 (Gout): The global gout disease treatment market was valued at approximately USD 2.76 billion in 2023 and is predicted to reach about USD 5.53 billion by 2032. Another source indicates the market size is expected to be around USD 5.4 billion by 2032, growing from USD 2.4 billion in 2022. The Gout Therapeutics Market is projected to be USD 4.24 billion in 2025, reaching USD 6.67 billion by 2031. The U.S. gout therapeutics market was valued at USD 1.40 billion in 2024. North America is considered the most lucrative market, holding the largest market share of 39.4%.
• PRX-119 (NETs-related diseases): The global Neuroendocrine Tumors (NETs) treatment market was valued at USD 2.45 billion in 2025 and is projected to grow to USD 4.12 billion by 2034. Other estimates indicate the market was valued at USD 3.57 billion in 2023 and is expected to reach USD 6.94 billion by 2030. The global neuroendocrine tumor (NET) treatment industry was valued at USD 2.5 billion in 2023 and is anticipated to reach USD 5.5 billion by 2032. North America dominated the NET treatment market in 2023 with a revenue of USD 1.1 billion, with projections to reach USD 2.3 billion by 2032.

Protalix BioTherapeutics (PLX) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:

1. Expanding Sales and Market Penetration of Elfabrio (PRX-102) for Fabry Disease: Elfabrio, approved by the FDA and EMA in May 2023, is a significant revenue contributor for Protalix. The product generated approximately $29.3 million in sales to partner Chiesi in fiscal year 2024, contributing to a 31% rise in product revenues that year due to inventory builds. For the first nine months of 2025, Elfabrio sales accounted for $18.6 million of the company's $43.1 million in product sales. A recent positive opinion from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) recommending an every-four-weeks (E4W) dosing regimen for stable adult Fabry patients in Europe, with potential European Commission approval by March 2026, could enhance patient quality of life and strengthen Elfabrio's competitive standing in the market. Furthermore, Protalix is eligible to receive substantial regulatory and commercial milestone payments, as well as tiered royalties ranging from 15% to 40% on net sales from Chiesi for PRX-102 in the United States.

2. Continued Growth in Elelyso Sales for Gaucher Disease: Elelyso, approved in 2012 for Gaucher disease, continues to be a steady revenue stream. Annual global sales for Elelyso range from $16 million to $23 million. In 2024, sales through partners Pfizer and Fiocruz increased by 3%. For the first nine months of 2025, Elelyso sales reached $24.6 million. The market for Elelyso is expected to grow due to factors such as advancements in recombinant biologics, expanded home infusion services, increasing diagnosis rates, and improved reimbursement frameworks.

3. Advancement of PRX-115 for Gout into Phase 2 Clinical Trials: The progression of PRX-115, a proprietary plant cell-expressed recombinant PEGylated Uricase for gout, represents a potential future revenue driver. The company completed Phase I clinical trials in 2024. Protalix submitted an Investigational New Drug (IND) for PRX-115 in October 2025, which has since become effective, and plans to initiate a Phase II clinical trial for PRX-115 in the second half of 2025, with top-line results anticipated in the third quarter of 2027. Protalix's CEO has described PRX-115 as a potential "best-in-class therapy."

4. Receipt of Milestone Payments and Royalties from Strategic Partnerships: Protalix stands to benefit from additional milestone payments and royalties stemming from its existing partnerships. The company previously received a $20 million regulatory milestone payment in fiscal year 2023 tied to the FDA approval of Elfabrio. There is also a potential $25 million milestone payment linked to the European Union approval of Elfabrio's new dosing regimen. The extensive partnership with Chiesi for PRX-102 also includes significant potential regulatory and commercial milestone payments and tiered royalties on net sales.

Share Issuance

• Protalix BioTherapeutics' shares outstanding increased by 15.89% in one year.
• The company had 80.42 million shares outstanding in the last 12 months.

Inbound Investments

• In 2023, Protalix BioTherapeutics recorded $25.1 million in revenues from license and R&D services, predominantly from its license and supply agreements with Chiesi Farmaceutici S.p.A., which included $20 million.

Capital Expenditures

• Capital expenditures for the last 12 months amounted to approximately $1.66 million.
• In the most recent quarter, capital expenditures totaled approximately $0.498 million.
• These expenditures support the development, production, and commercialization of recombinant therapeutic proteins based on the company's proprietary ProCellEx plant cell-based protein expression system.